One of the biggest foreclosures in South Florida this year is now one of the largest auctions.

Wells Fargo Bank (NYSE: WFC) won a $52.6 million foreclosure judgment against Boynton Development Associates II, along with managing members Anthony Comparato, Carl E. Klepper Jr. and Robert D’Angelo. It concerns a $47.2 million mortgage, plus interest and fees.

The lawsuit was filed July 2 and the borrower consented to the judgment.

A Sept. 18 online auction was set for the 63 office-retail condos in buildings at 1880 N. Congress Ave. and 1500 W. Gateway Blvd. in Boynton Beach. The buildings are 122,338 and 109,000 square feet.

The developer previously sold 18 units in the buildings.

The online listing for the building on Congress Avenue shows 22 office spaces available for lease at an asking price of $18 per square foot.

The building on Gateway Boulevard has an online listing for 10,016 square feet of restaurant space and an asking price of $30 per square foot to lease.

The property was developed by Boca Raton-based Compson Associates. Its nearby apartment project is not included in the foreclosure.

Medical office condos in Deerfield Beach face foreclosure

Two dozen medical office condos in Deerfield Beach could be seized in foreclosure.

Fifth Third Bank (NASDAQ: FITB) filed a foreclosure lawsuit on Aug. 6 against Naples-based HPC Group and managing members Edward Ellman and Andrew Stallone. It concerns a mortgage last modified in April at $3.1 million.

The loan was originated in 2006 for $9.7 million. HPC completed the building at 5350 W. Hillsboro Blvd. the following year and sold 20 units to medical users. The last sale was in late 2011.

Only the 24 developer-owned units are targeted in the foreclosure.

Miami attorney Alan Grunspan, who represents Fifth Third Bank in the lawsuit, couldn’t be reached for comment.

Ocean Bank seeks foreclosure on 121-acre farm

Ocean Bank wants to foreclosure on a 120.5-acre farm in unincorporated Palm Beach County that also has a loan from the U.S. Small Business Administration.

The Miami-based bank filed a foreclosure lawsuit on Aug. 12 against Homestead-based Arcost LLC and the SBA. The LLC is managed by Alberto J. Arazoza, who wasn’t named in the complaint.

Arcost bought the property west of the Acreage area for $4 million in 2004. It obtained a $2.4 million mortgage from Ocean Bank and a $1.09 million mortgage backed by the SBA.

A foreclosure judgment in favor of the bank could wipe out the SBA’s interest in the property.

Grunspan, who represents Ocean Bank in the lawsuit, couldn’t be reached for comment.

Another bank-owned disposition loan goes bad for TransCapital

For the second time this year, TransCapital Bank is seeking to foreclose on a loan it made to sell off a repossessed property.

The Sunrise-based bank filed a foreclosure counter claim on Aug. 9 against EDG 2011 LLC, RW Investment Group, Aris International, KBM LLC and PF Group 2010, along with managing members Kenneth E. Richardson and Stuart W. Broeren. The action is in response to an association dues foreclosure lawsuit that was filed against the property owners and the bank earlier this year.

TransCapital Bank took over 17 units in the property at 5624 Linton Blvd. in 2011 after foreclosing on the $2.2 million mortgage of Harborage Leasing Corp. The bank promptly sold those units for $1.6 million to EDG 2011. It then made a first mortgage of $1.71 million and a second mortgage of $1.45 million on the units owned by EDG 2011, plus an additional 24 units owned by the RW Investment, Aris International, KBM and PF Group.

So now the bank is right back where it started with a foreclosure, but at least it has more collateral this time.

BB&T sends Miami commercial condos to auction

Branch Banking & Trust Co. sent 19 industrial/office condos in Miami to auction after winning an $8.8 million foreclosure judgment.

The bank (NYSE: BBT) won the judgment against RG Investment Enterprises and managing member Recaredo Gutierrez over a $6.7 million mortgage, plus interest and fees. The lawsuit also names James F. Perry & Co., which has a $1 million second mortgage on the property.

The 19 units in the Best Milam Dairy building at 5451 N.W. 72nd Ave. are set for online auction Sept. 24. They were created in 2008.

RG Investment previously sold four units in the building. The sales occurred in 2008, when the company was in Chapter 11 reorganization.

The mortgage was picked up by BB&T from the failure of Colonial Bank.

West Palm Beach townhome project to auction

A town home project along the Intracoastal Waterway in West Palm Beach is slated for auction after its owner lost an $8.5 million foreclosure judgment.

Jacksonville-based EverBank (NYSE: EVER) won the judgment against Flagler Beach LLC and managing member Gary Goldstein over a $5 million mortgage, plus interest and fees. The lawsuit was filed in 2010 by Bank of Florida – Southeast, which later failed.

The 1.98-acre site at 5818 N. Flagler Dr. is set for online auction Sept. 29. It has a two-unit, 16,374-square-foot townhome building that was completed in 2010, but much of the land behind it remains vacant. The site includes a dock.

Construction firm surrenders headquarters

Southland Forming, which molded concrete for many large condo towers during the last real estate boom, surrendered its headquarters in Royal Palm Beach to its lender.

EverBank was given title to the property by Whiteside Group in exchange for releasing $4.68 million in mortgage debt. This resolved a foreclosure lawsuit filed in 2010 by Bank of Florida – Southeast before it failed.

The property seized by the bank is a 10.4-acre site at 8470 Belvedere Road with a 9,290-square-foot office building, two warehouses totaling 8,028 square feet and two steel sheds totaling 13,430 square feet. The site has approval for additional warehouses totaling about 70,000 square feet.

Most of the guarantors on that loan were the managing members of Southland Forming, which was founded in 1976. It did work on projects such as Brickell, Oasis I and II, Trumps Sunny Isles Beach and Turnberry Ocean Colony.

The phone number for the company was disconnected.

The company previously lost another property in Palm Beach County to Fifth Third Bank.

Hialeah warehouse loses foreclosure

A Hialeah warehouse is headed to auction after its owner lost a $3.2 million foreclosure judgment.

Stabilis Fund II won the judgment against Warehouse Associates #1 over a $2.9 million mortgage, plus interest. The amount of attorney fees to be awarded will be determined at a later day.

The foreclosure action was a counterclaim in response to a lawsuit brought by the borrower against New York-based Stabilis in 2012. Stabilis, the plaintiff in the counter claim, acquired the loan from Regions Bank.

The 101,297-square-foot warehouse on 3.3 acres at 4201 N.W. 37th Court is set for online auction Oct. 7. It’s just east of Miami International Airport.

David T. Diamond is the managing member of the borrower, but he wasn't named in the complaint.

Miami Beach investor grabs distressed office from foreclosure

A local investor obtained a Miami Springs office building at foreclosure auction after buying its distressed loan.

Miami-based TotalBank won a $6.1 million foreclosure judgment in June against East Coast Capital Investment, along with managing members Richard Ugarte, William Ugarte and Bruno Ugarte. It concerned a $3.8 million mortgage, plus interest and fees.

The bank sold the judgment to Naima Group, which is managed by Doron Marom in Miami Beach. His company won the Aug. 8 auction with an $800 credit bid.

The 50,745-square-foot building at 657 South Drive was completed in 2010. The four-story building is just north of Miami International Airport.

To search for other large commercial foreclosures in South Florida, including by location or property check, check out our Foreclosure Roundup Database.